Paying the Cingular contract phone bill builds up credit history?

Question

Does paying my Cingular contract phone bill builds up credit history? Does my Cingular phone account act as a account in my credit history too? I have 3 credit accounts in excellent condition and i was wondering if getting contract phone and paying it on time would make it better.

Answer 1

Utility companies like cellular phone companies, gas and home telephone companies don't usually report to credit reporting agencies (although there are some exceptions), so having a contract with Cingular will not help your credit rating. If you default on payment with a utility company, however, they sell the account to a collection agency, who does report it to the credit reporting agencies.
Most times you see utility type accounts on a credit file, the information is negative.
Cingular does not report paid on time accounts to the credit reporting agencies.

Answer 2

Your best bet is to ask Cingular.

My guess would be no but in some states real utility companies providing gas, eletricity and water are reporting to the bureaus.

Cell phone and telephone companies dont tend to report unless you default on a payment. Many cell phone companies have their own internal collection units who will attempt to force you into a payment schedule before they turn you over to an outside collection agency. I say unless you need a cell phone don't add another bill to your expenses. Cell phone bills have a way of spiraling out of control. If you think you need a cell phone try a pick up and go first-i woud recommend Tmobile prepay as they give you additional talk time after you refill $200 or $250 dollars. Metro PCS is a bit more expensive and has a good plan but may allow you to get a better picture of your expenses.This will allow you to determine your usage before you commit to a contract that wont meet your needs. Some cell phone companies will not allow you to change your contract after you have a plan in place. Others will allow you to change but charge you a fee for doing so. Most have early termination fees as well should you decide to switch carriers.

Answer 3

Ask Cingular if they report to a credit reporting agency. Most utilities don't. They will report your account if it goes bad, but otherwise they usually don't report.

If you're trying to build a credit history, consider getting a secured credit card. Also, consider getting into a credit union. They're generally more helpful than banks.

Building a good credit history is a slow and difficult process. Ruining one is EASY.

Answer 4

I am not sure that paying it will help your credit much because the balances couldn't be very high, but one thing is sure, if you stop paying it your credit will suffer. Most creditors like phone companies are in no hurry to report good credit practices, but they promptly report any of your bad ones.

Answer 5

I doubt it but if you have late payments and unpaid balance and goes into collection it will put a bad mark on your credit history.
Best way is check your credit report to check, its also a way of protecting yourself from incurring bad remarks from fraudulent reports. If you see something on your report that doesn't seem right or that you are not aware of its good to investigate/contest the report.

Answer 6

paying any bill in your name will improve your credit score as its proving to future creditors that you are able to make the payments on time..

Answer 7

No.